The Government has proposed a new obligation on businesses registered for VAT in Slovakia to submit a VAT ledger statement with the VAT return. The statement will require details of invoices issued and received. All businesses registered for VAT in Slovakia, including, foreign entities, will be required to submit the ledger statement.
If the proposal is approved it would be introduced from 1 January 2014.
The statement will not be required if there are no transactions or if the only transactions are exempt intra-community supplies of goods or exports of goods (provided there is no input VAT deduction on the return).
In its current form the ledger statement will require considerable effort to comply with due to the vast amount of information to be captured.
We will monitor the progress of this proposal and advise on developments.